Earlier reports stated that on November 4 a new wave of US sanctions will directly hit Iran's oil exports and banking operations and is expected to disconnect the Middle East state from international financial channels.

The US Treasury announced Tuesday that twenty entities, including four banks, will be targeted by new Iran's sanctions.

"This Iran-based network is known as Bonyad Taavon Basij, which is translated as Basij Cooperative Foundation, and is comprised of at least 20 corporations and financial institutions," the release said.